We need slope intercept form but do not have the needed information. We will gather this information by using point slope form. The point-slope formula is where we substitute a point (x,y) for .
We have slope represented as m=6 and (3, -5). We input m and .
We now simplify the parenthesis and solve for y to have slope intercept form.
The y-intercept is b of slope intercept form y=mx+b. Here b=-23.
Kellie has built her savings account to $7,800. She is transferring it to an account that earns 5.5% interest, compounded monthly. What will the balance of the account be in 16 years?